Category Archives: Taxes

How Can I Look Up A Tax ID For A Business?

How Can I Look Up A Tax ID For A Business?

One of the most important questions that needs to be answered when you are starting your business is what type of entity would you like to be classified as? The Sole proprietor Tax ID number can be what you are looking for to start your business.

Sole Proprietorship- Perfect for Starting Your Business

The sole proprietorship is the simplest way for your business to get incorporated. You can easily apply for your EIN, and there are fewer formal accounting requirements than other entities. If you are classified as a sole proprietorship, your taxes will be filed on your personal return.

This is the perfect option for freelancers, thanks to its lack of formality. You can easily exchange personal and business assets, and you are personally liable for debts and other obligations. Your personal assets will be treated as assets of the business.

EIN Application Offers Short and Long-Term Benefits

Applying for a Federal Tax ID can be as simple as completing an EIN application. An EIN application can be completed quickly, and you will receive an answer on its status usually within the same business day. The EIN number can be used immediately, whether you are trying to secure capitol or hire employees.
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Changes in Business Law in 2017

Changes in Business Law in 2017

With Brexit on the horizon and a snap general election announced recently by Prime Minister Theresa May, the future is looking very uncertain, and uncertainty is a difficult climate to do business in. Businesses need to have firm expectations about what the future will be so they can make long term plans, and this is… Continue Reading

How Do I Know I Need A TIN?

How Do I Know I Need A TIN?

One thing that most people dread doing is taxes. When tax season rolls around, we would rather be doing literally anything else, which is why many of us choose to have professionals handle our taxes rather than deal with it ourselves. However, one item that you must have is a tax ID number or TIN.… Continue Reading

What Starting a Small Business Does to Your Taxes

Most entrepreneurs hope beyond hope that their big business idea will make them rich — but few realize that a successful small business changes more than its founder’s bank accounts. Particularly, starting a small business can make tax season even more of a headache for entrepreneurs who weren’t prepared for filing anything different from their… Continue Reading